Mumbai: The Bombay High Court on Thursday permitted former non-executive director of Binani Cements, Shradha Binani, to travel to London from this weekend till February 20. Binani, the daughter of the Binani group chairperson, is facing an investigation by the Serious Fraud Investigation agency (SFIO).
A division bench of Justices Gautam Patel and Neela Gokhale granted her permission to travel and directed her to set out full particulars of her travel itinerary and to cooperate with the probe.
The Hc was hearing a plea filed by Binani challenging the SFIO action. She also filed an interim application seeking permission to go abroad.
Her counsel Venkatesh Dhond said she would likely travel on Friday or Saturday by a direct flight to London, as she has to be there by February 6.
Opposing her plea, Additional Solicitor General (ASG) Anil Singh, appearing for the SFIO, argued that the fraud being investigated is worth over Rs1500 crore. The company is controlled by her maternal side and all her family is in the UK, said Singh. He also pointed out that her father and sister have not appeared before the SFIO.
Last November the HC had dismissed her plea challenging the summons issued to her in 2021 by the SFIO observing that the probe was at a “nascent stage”.
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